Caring Tenants are usually those who take pride and care of their rental properties as their own, pay rent on time, report maintenance issues promptly, communicate effectively with the landlords and property managers, respect the neighbors and contribute positively to the overall atmosphere.
In our experience as a small Boutique Real Estate practice in Sydney - Australia, a good first impression can work wonders, and the more caring, dedicated and thoughtful landlords and we, as property managers, work towards delivering inspiring rental home experiences from the very beginning, the higher the chances to attract like-minded tenants through the whole tenancy experience.
Golden Rules for Inspiring Rental Home Experiences
"This house speaks volumes about the landlord's care.", "The well-maintained and cleanliness really sets this property apart.", "I can picture myself living here without any problem." … These are just examples of prospective tenant comments at the time of successful open home inspections, and that’s why it’s crucial that before trying to find and connect with all prospective tenants, to make sure all rental properties follow the Golden Rules for Inspiring Rental Home Experiences, which basically means that all rental properties are meticulously clean and well maintained above the minimum standards, are structurally sound with adequate utilities, proper ventilation, natural and artificial lighting, safe electrical systems, free from any health and safety hazards, with reasonable security and privacy measures in place, compliance with the local laws, accessible and are meticulously clean and spotless (Did I really repeat “meticulously clean” for the 2nd time? And for the 3rd time? Yes, you read right 😊
How to attract caring tenants?
Now that property investors have put some of hardest yards upfront by having their spotless well-maintained rental properties ready for lease, it’s time to put some communication and pricing strategies out there in order to attract and connect with all the best prospective tenants:
Step 1
Create thorough and proper marketing for rent campaigns at the right market price + special inclusions and spread the message through multiple communications channels in order to invite all prospective tenants to enquire, inspect and submit their very best rental applications for your investment properties
The campaign should include, but not limited to: 1. analyze and pick the right price strategy and promotional inclusions, 2. furnish up your investment properties (suitable for short term/ temporary leases), 3. take good quality photos, aerial photos and/or 360 panoramic photos, 4. do promotional videos with or without aerial footage, 5. apply virtual furniture (for unfurnished properties), 6. create site plans and floor plans, 7. create virtual tours, 8. install for rent sign boards, 9. organize the wording message to then post your rental properties at the right price with all the promotional inclusions and open home times in all different communication channels, depending on your target audience as: off market property managers database, online listing platforms as realestate.com.au and domain.com.au, social media, local newspapers, magazines and influencers collaboration among others.
Step 2
Respond to all phone calls, sms and email enquires promptly and courteously
As soon as your thorough and proper marketing for rent campaign is out there, all prospective tenants will start getting in contact, and that’s where demonstrating a respectful and efficient communication style from the very beginning sets a positive tone for potential tenants and shows the commitment to providing excellent services. This is also a way to build rapport and trust through the process, an opportunity to invite all prospective tenants to come to the next open home inspections and submit their best rental applications.
Step 3
Conduct welcoming open home inspections
Successful open home inspections not only showcases the property but also gives you an opportunity to assess potential tenants' compatibility with your property and your expectations. Creating a positive and professional long lasting impression during the open house can attract caring tenants who appreciate your efforts and are more likely to treat the property with respect. Welcoming open home tips:1. choose an appropriate date and time for the open house, considering convenience for potential tenants, 2. prepare informational materials such as brochures or fact sheets about the property, 3.arrive early so you can create the welcoming atmosphere before any prospective tenant arrives by turning all the lights and blinds up, set air-conditioning temperature right, play some instrumental music, light some candles and oil essences 4. provide clear signage and directions to guide attendees to the property, 5. greet all prospective tenants with protective shoe covers and a warm and friendly demeanor as they arrive (the shoe covers will highlight how meticulously clean the property is, 6. allow prospective tenants to explore the property at their own pace, but remain available for assistance, 7. walk prospective tenants when possible through the property, highlighting its key features and benefits emphasizing the property's unique selling points, such as property orientation, natural light, ventilation, room size, fridge space size, appliances type, water and energy efficient features, 8. engage with attendees and encourage them to envision themselves living in the space, 9. explain the rental application process, price, promotional inclusions (if any) and lease terms, 10. answer questions and address concerns and inquiries from potential tenants in a knowledgeable and respectful manner, 11.encourage attendees to provide feedback about the property, which can help you understand their preferences, 12. collect feedback and 13. after conducting every successful open home inspection, follow up with all attendees to gauge their level of interest and address any additional questions they may have.
Step 4
Process all rental applications with their supporting documents, perform background reference checks and pre-select prospective tenants that match your values criteria in a timely manner
When successful rental applications and supporting documents have been received then it is time to 1. establish a clear tenant qualification criteria based on identification and current legal status in the country, current and previous rental or living history, current and previous employment or self-employed history, current financial situation, other dependents information (if applicable), pets information (if applicable), 2. carefully review all submitted documentation for accuracy and completeness, 3. perform background reference checks over the phone and in writing to assess and confirm the applicant profiles and character, example; contact current and previous landlords/agents to gather insights into their rental history and behavior, verify employment and income to ensure applicants can afford the rent, 4. look for any red flags or inconsistencies that may warrant further investigation or clarification, 5. rank and prioritize applicants based on their adherence to the qualification criteria, 6. pre-select like-minded caring tenants who align with your values and 7. confirm the pre-selected candidates are still interested to proceed with their application, offered price and terms.
Step 5
Sellect and secure those caring tenants who align with your values and criteria in a timely manner
When the best caring tenants that align with your values confirm they are still interested to proceed with their rental applications, prices, promotional inclusions (if applicable) and general terms, it’s time to seal the deal and secure them in a timely manner by 1. Sending onboarding/welcoming emails in writing that outline the whole process for reassurance and setting clear timeframes and expectations with the new tenants as; a) confirmation of property details and general terms, b) bank accounts for them to transfer their holding deposits, c) general information about the rental bonds and amount, d) service utility connections, e) further steps as sending the property ingoing condition reports, residential tenancy statements and lease agreements when ready, to finally pre-agree on a mutual suitable time on the lease commencement date to handover keys and welcome all the new tenants into their new homes. After the welcoming onboarding email is sent and the holding deposit is received, then it is time to 2. prepare and send a) thorough ingoing property condition reports to all the tenants with sufficient photos and descriptive comments that outline the cleanness, non-damage and working condition of all properties/items, b) the residential tenancy statements and c) comprehensive lease agreements that outlines rights, responsibilities, and expectations for both parties, clearly state rent amount, due date, security deposit details, and any other terms, 3. Make sure to received all signed documents and payments as per the agreement, 4. reconfirm move-in date and time with the new tenants.
Step 6
Welcome all new tenants into their new homes.
On the lease commencement date, once all the formalities, payments and paperwork signatures are met, it is the right time to greet all tenants at their new premises, handover all their keys, remote controls and also provide the “Welcome home tenants gift packs” in order to fosters a positive atmosphere and set the tone for the rest of their tenancy.
Here are some ideas for presents to consider: 1. Welcome gift basket: With essential items like cleaning supplies, snacks, a small potted plant, and personalized welcome notes. 2. Gift Cards to local restaurants, coffee shops, or grocery stores: A versatile and appreciated gesture. 3. Maintenance Kit: With basic tools and supplies that tenants might find useful for minor repairs or improvements. 4. Home Décor: Decorative items like candles, picture frames, or wall art that can add a cozy touch to their living space. 5. Plant or flowers: A small indoor plant or a bouquet of fresh flowers can brighten up their home and bring a touch of nature indoors. 6. Community event tickets to local events, movies, or attractions: to encourage tenants to explore their new neighborhood. 7. Board Games or Puzzles: Indoor entertainment with a selection of board games or puzzles. Giving presents to tenants, it's important to consider their preferences and any potential allergies or sensitivities.
During the handover and welcoming process, it’s also a great opportunity to walk with your tenants through their homes while revisiting the property condition and reports, tenancy statement information and lease agreement terms previously signed, guidance on to submit future rental payments, coming routine inspections and accessing the premises, general maintenance and cleanliness tips, how to report maintenance issues when they arise and general communication channels.
Why is attracting caring tenants so important for property investors?
In our experience as a Boutique Property Management practice in Sydney Australia, we have found that caring tenants are invaluable assets for both landlords and property managers. Their pride and care for their rental properties reduces maintenance costs in the short and long run, preserving and even adding property value. Timely rent payments provide financial stability, ensuring consistent cash flows. Their attachment to their homes and neighborhoods also translates into longer lease terms, minimizing marketing, leasing expenses and vacancies. Moreover, their contributions to a harmonious community atmosphere enrich the living experience for all residents.
Would you like to know more about how to attract caring tenants for your investment properties? follow us on social media, and If you are located around Sydney and want to connect in person, just let us know, we can always find time for a good coffee, brunch or lunch :D just contact us and say hello with your favorite dish/drink and let us invite you! Promised!